What personal loan APRs does Boro Personal Loans offer?

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Boro Personal Loans?

Loan amounts start at $1,000 and go up to $3,000.

What can a personal loan from Boro Personal Loans be used for?

Personal loans from Boro Personal Loans are typically used for special purchases or similar purposes.

What is the maximum loan term you can get with Boro Personal Loans?

Boro Personal Loans offers personal loans with terms ranging from 12 to 36 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Boro Personal Loans Rates & Terms

Loan Amount

$1000
- $3000

Loan Term

12
- 36 months

APR

Starting at 15.9%

What fees does Boro Personal Loans charge?

Does Boro Personal Loans charge an origination fee?

Boro Personal Loans does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Boro Personal Loans charge a late fee?

Yes, Boro Personal Loans may charge borrowers a late payment fee of up to $15, which is triggered if you're 15 days late.

Does Boro Personal Loans charge prepayment fees?

No, Boro Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

Boro Personal Loans Fees

Origination Fee

N/A

Prepayment Fee?

No

Late Payment Fee

$15

What do you need to qualify for a loan with Boro Personal Loans?

Applicants with a credit score of at least 640 can apply for a loan via Boro Personal Loans . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Boro Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay the loan requested.

Active duty servicemembers and their covered dependents cannot apply for a loan via Boro Personal Loans. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.U.S. citizens, permanent residents, and non-residents can all apply for a Boro Personal Loans loan.

To qualify, applicants may need to provide the following documentation:

Business Formation Documents

Proof of Graduation

Proof of Insurance

References

Proof of residence

Applicants must have an active and valid checking account

Proof of identity

Boro Personal Loans Eligibility Criteria

Minimum Age

18

Bank Account Required?

Yes

Joint Applications Accepted?

Yes

Credit Score

640
- 850

What is the estimated funding time for a personal loan via Boro Personal Loans?

Boro Personal Loans will typically provide a credit approval decision in less than an hour and fund the loan within 1 business day.

Does Boro Personal Loans report loan payments to credit bureaus?

Boro Personal Loans may report credit data to the following credit reporting agencies:

Experian

Transunion

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Westbon is the first lending platform for international students in the U.S. We specialize in providing auto loans and personal loans for our customers, who have always been an underserved group due to the lack of SSN and credit history. With our innovative underwriting approach we are able to provide international students and expats with unprecedented access to convenient and affordable financing options.

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